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Trade Services Update

 

 

Press Release

Nokia to Digitize Sale of Receivables with @GlobalTrade™

Toronto, Canada, April 5, 2017 – GlobalTrade Corporation (GTC) has announced today that it will add Receivable Finance Management system (RFM) to its @GlobalTrade™ Multi-bank Trade Finance Platform for Nokia Corporation. RFM will be used to support automation, digitization and streamlining the existing manual process of the sale of Nokia’s receivables to financial institutions.

'Nokia has been very satisfied in using @GlobalTrade with guarantees and export documentary credits and smoothly integrated also former Alcatel-Lucent business entities into the Platform, said Jari Hänninen, Head of Structured Finance, Credit Products, Nokia Corporation. Nokia is now willing to deepen the relationship further with RFM module and contribute in its development. GTC has proven to provide us excellent customer service, attention to detail, and enabling us to automate our trade finance related workflows. We look forward to expanding the use of GTC’s Platform with another module to standardize, digitize and automate our receivables financing related process towards more digitized world of trade finance.’

‘RFM will incorporate not only requirements of Nokia, but also of other GTC clients and their financial institutions, said GTC’s CTO Nick Pachnev. It will provide corporates with a single window for selling and managing all receivables and will include bank functionality for monitoring purchased receivables and calculating associated fees. RFM will provide a low-cost entry point into the business for those financial institutions that have not yet invested in their own software. RFM system will be offered as a SaaS solution to both corporates and financial institutions as integrated part of GTC’s @GlobalTrade™ Platform or as a stand alone System.’

‘Our goal is not only to digitize an existing manual process but improve the way receivables are sold, said Jacob Katsman GTC’s CEO. The existing functionality of our @GlobalTrade™ Platform offers communication with financial institutions using SWIFT FileAct and the Web Interface. We plan to leverage this functionality and to standardize the process as much as possible.’

About Nokia Corporation

Nokia Corporation is a global leader in the technologies that connect people and things. Powered by the innovation of Bell Labs and Nokia Technologies, the company is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives. With state-of-the-art software, hardware and services for any type of network, Nokia is uniquely positioned to help communication service providers, governments, and large enterprises deliver on the promise of 5G, the Cloud and the Internet of Things. http://www.nokia.com

About GTC

GlobalTrade Corporation (GTC) is a software developer and application service provider whose product solutions improve the world of trade finance and trade services. The @GlobalTrade systems help buyers, sellers, traders, and financial institutions communicate faster and more efficiently while reducing risk and improving monitoring and control. Their customers include both business enterprises that need consolidated access to multiple banks as well as financial institutions that require supply chain finance solutions to meet their clients' needs. @GlobalTrade™ is a registered trademark of GlobalTrade Corporation. For more information please visit www.globaltradecorp.com

Media Contact
GlobalTrade Corporation
Marina Heimitz
Tel: +1 416 661 8520
E-mail: info@globaltradecorp.com
URL: www.globaltradecorp.com